Preliminary Group Financial Results for the year ended 2014
Income Statement Review
Selected lines from Income Statement (€ mn)
Net interest income
Other income
Total income
Total expenses
Profit before provisions and impairments, gains on derecognition and
changes in expected cash flows on acquired loans, restructuring costs and
discontinued operations
FY2014
4Q2014
3Q2014
qoq
2Q2014
change %
967
225
231
-3%
263
210
62
32
+96%
55
1.177
287
263
+9%
318
(430)
(118)
(103)
14%
(104)
747
169
160
+6%
214
Provisions for impairment of customer loans
(666)
(248)
(115)
+116%
(173)
Gains on derecognition and changes in expected cash flows on acquired loans
Impairments of other financial and non financial assets
47
29
6
4
(81)
(49)
1
(33)
Share of profit/(loss) from associates
5
3
(2)
2
Profit/(loss) before tax, restructuring costs and discontinued operations
52
(96)
50
14
Tax
(10)
0
(6)
(2)
(Loss)/profit attributable to non-controlling interests
(0)
(0)
(0)
Profit/(loss) after tax and before restructuring costs, discontinued
operations and net profit on disposal of non-core assets
42
(96)
44
12
Restructuring costs
(36)
(3)
(12)
-60%
(16)
Loss from disposal group held for sale/discontinued operations
Net gain/(loss) on disposal of non-core assets*
(Loss)/profit after tax
Net interest margin
Cost-to-Income ratio
(309)
(220)
(37)
-468%
(6)
47
(13)
60
(256)
(332)
(5)
50
3,94%
3,81%
3,82%
-1 b.p.
4,23%
37%
41%
39%
+2p.p.
33%
* Relates to the disposal of the Ukrainian operations, the disposal of the stake in Banca Transilvania,
the disposal of the loans in Serbia, the early part repayment of the Cyprus Government Bond by the
Republic of Cyprus and the sale of the Laiki UK loan portfolio.
b.p. basis points, p.p. = percentage
points; 100 b.p. = 1 p.p.
Bank of Cyprus
KOINO
WKYNРIW
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